Source: Metavante
Metavante Corporation, the banking and payments technology subsidiary of Marshall & Ilsley Corporation (NYSE:MI), has completed its acquisition, announced in June, of VICOR, Inc., of Richmond, Calif.
The company will become a Metavante subsidiary within the company's Commercial Treasury Solutions division.
VICOR, a leading provider of corporate payment processing software, will enhance Metavante's existing commercial treasury offerings with the addition of a suite of solutions that optimize the processing of complex payments. VICOR's flagship product, Receivable Information Delivery System, (RIDS), is an industry leading remittance system that delivers wholesale, retail and scannable payment processing functionality on a single platform.